SEC: Statement Of Chairman Cox Regarding Progress Report Of Advisory Committee On Improvements To Financial Reporting

Securities and Exchange Commission Chairman Christopher Cox today issued the following statement regarding the progress report presented by the Advisory Committee on Improvements to Financial Reporting:

"The Advisory Committee on Improvements to Financial Reporting today presented to the Commission a progress report on the Committee's work to date. This is an important step toward making financial information more useful for investors and reducing unnecessary complexity. I have asked the SEC's professional staff to analyze the report and its proposals, and to provide recommendations to the Commission for possible consideration later this year. I thank the Committee members for their diligent work to date and look forward to additional proposals and recommendations as the Committee continues its important work over the next few months."